Content area
Full text
After its mega-purchase of the Embarcadero Center complex in 1998, Boston Properties Inc. struck again in a big way last year. This time, it made its mark on the suburban Bay Area office scene.
Its $118 million purchase of the Gateway complex in the industrial city of South San Francisco was certainly big, but it also signaled the return of mega-deals to the market and the rising fortunes of the north Peninsula area.
In mid-1998, market forces conspired to sap strength from the Bay Area real estate market: Capital for real estate investment trusts had evaporated...